Two types of conjugated polymers were prepared with the goal to blend them with rod-like CdSe nanocrystals. The polymers of the first type were synthesized through copolymerization of 3-octylthiophene and 3-methylene-ethylcarboxylate-thiophene to give polythiophene with solubilizing alkyl groups and methylene ester functional groups (PE series). Post-polymerization hydrolysis of the ester type polymers yielded acid-type ones (PA series). Photoluminescence (PL) quenching in these polymers induced by their titration with nanocrystals solution was chosen as a measure of the polymer-nanocrystal interactions. PL of polyacids turned out to be more efficiently quenched as compared to the case of polymers with ester groups which was interpreted as an indication of better electronic communication between the hybrid components. Infrared (IR) spectroscopy confirmed efficient coordination of the carboxylic groups to CdSe. Voltammetric studies combined with UV-vis spectroelectrochemistry enabled the determination of energy levels alignment of the molecular composite components which turned out to be of staggered type-appropriate for photovoltaic applications. The obtained blends of polyacids with CdSe nanocrystals, when studied by transmission electron microscopy (TEM), revealed the presence of an interpenetrating network in which nanorods were homogeneously distributed within the polymer matrix without any indication of agglomerates formation both on the film surface and in the cross-section. Blends with polymers containing ester groups were less homogeneous which could be explained by weaker polymer-nanocrystals interactions. Photovoltaic cells based on these hybrid materials are also discussed.