We investigate the mechanism of growth of nanocrystals from solution using the case of ZnO. Spanning a wide range of values of the parameters, such as the temperature and the reactant concentration that control the growth, our results establish a qualitative departure from the widely accepted diffusion controlled coarsening (Ostwald ripening) process quantified in terms of the Lifshitz-Slyozov-Wagner theory. Further, we show that these experimental observations can be qualitatively and quantitatively understood within a growth mechanism that is intermediate between the two well-defined limits of diffusion control and kinetic control.