We conduct femtosecond transient absorption spectroscopy of thin films of the native and ligand-exchanged NCs following 90 fs excitation pulses at 325 nm (0.5 µJ/pulse). For both NC samples, we find the expected ground state bleach (GSB) close to the first excitonic transition of the NCs, a short-lived sub-band gap excited state absorption (ESA) feature as well as a weak broad ESA above the band gap energy (Fig. ). While the absence of any new or strongly changed features in the presence of DCzGPC indicates no significant energy transfer between the ligand and the NCs, we observe overall shorter lifetimes (Fig. ). Biexponential fitting of the sub-band gap feature at 487 nm for the native and 477 nm for the exchanged system show a decrease of the second lifetime from 42 ps to 17 ps.