MEDIAPLEX INC
SC 13G, 2000-02-10
BUSINESS SERVICES, NEC
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)


             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)

                                (Amendment No.  )


                                MEDIAPLEX, INC.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                        Common Shares, $.0001 par value
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   58446B105
- --------------------------------------------------------------------------------
                                 (CUSIP Number)


                               November 19, 1999
- --------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)


     Check the  appropriate  box to  designate  the rule  pursuant to which this
Schedule is filed:

          [_]  Rule 13d-1(b)

          [X]  Rule 13d-1(c)

          [_]  Rule 13d-1(d)


- ----------
(1)  The  remainder  of this  cover  page  shall be filled  out for a  reporting
     person's  initial  filing on this form with respect to the subject class of
     securities,  and for any subsequent amendment containing  information which
     would alter the disclosures provided in a prior cover page.

     The  information  required in the remainder of this cover page shall not be
deemed to be "filed"  for the purpose of Section 18 of the  Securities  Exchange
Act of 1934 or otherwise  subject to the  liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).


(SC13G-07/98)

<PAGE>

CUSIP No.   58446B105                 13G                      Page 2 of 8 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)


Zeron Capital Ltd.
________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]
N/A
________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION


Bermuda
________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           125,000
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         125,000
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


                                    125,000
________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


                                     .004%
________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*


                                       CO
________________________________________________________________________________
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>


CUSIP No.   58446B105                 13G                      Page 3 of 8 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)


Argossy Limited
________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION


British Virgin Islands
________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           1,000,000
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         1,000,000
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


                                    1,000,000
________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


                                      3.3%
________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*


                                       CO
________________________________________________________________________________
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>

CUSIP No.   58446B105                 13G                      Page 4 of 8 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)


Odyssey Venture Partners LP
________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]
N/A
________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION


Bermuda
________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           1,500,000
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         1,500,000
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


                                    1,500,000
________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


                                      4.8%
________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*


                                       PN
________________________________________________________________________________
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>

CUSIP No.   58446B105                 13G                      Page 5 of 8 Pages


________________________________________________________________________________
Item 1(a).  Name of Issuer:


Mediaplex, Inc.
________________________________________________________________________________
Item 1(b).  Address of Issuer's Principal Executive Offices:


177 Stueart Street, 2nd flr.
San Francisco, CA  94105
________________________________________________________________________________
Item 2(a).  Name of Person Filing:

This filing is made on behalf of Zeron Capital Ltd.; Odyssey Venture Partners LP
and Argossy Limited.
________________________________________________________________________________
Item 2(b).  Address of Principal Business Office, or if None, Residence:

The principal address for all filers is Bermuda  Commercial Bank Bldg, 44 Church
Street, Hamilton, HM 12, Bermuda
________________________________________________________________________________
Item 2(c).  Citizenship:


Zeron  Capital Ltd. and Odyssey  Venture  Partners LP were  organized  and exist
under the laws of Bermuda.  Argossy  Limited was  organized and exists under the
laws of the British Virgin Islands.
________________________________________________________________________________
Item 2(d). Title of Class of Securities:


                                  Common Stock
________________________________________________________________________________
Item 2(e).  CUSIP Number:


                                    58446B105
________________________________________________________________________________
Item 3.     If This Statement  is Filed  Pursuant to  Rule 13d-1(b), or 13d-2(b)
            or (c), Check Whether the Person Filing is a:

     (a)  [_]  Broker or dealer registered under Section 15 of the Exchange Act.

     (b)  [_]  Bank as defined in Section 3(a)(6) of the Exchange Act.

     (c)  [_]  Insurance  company as defined in Section 3(a)(19) of the Exchange
               Act.

     (d)  [_]  Investment  company  registered under Section 8 of the Investment
               Company Act.

     (e)  [_]  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

     (f)  [_]  An employee  benefit plan or endowment  fund in  accordance  with
               Rule 13d-1(b)(1)(ii)(F);

     (g)  [_]  A parent  holding  company or control  person in accordance  with
               Rule 13d-1(b)(1)(ii)(G);

     (h)  [_]  A savings  association  as defined in Section 3(b) of the Federal
               Deposit Insurance Act;

     (i)  [_]  A  church  plan  that  is  excluded  from  the  definition  of an
               investment  company  under  Section  3(c)(14)  of the  Investment
               Company Act;

     (j)  [_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


     If this statement is filed pursuant to Rule 13d-1(c), check this box.   [X]


<PAGE>


CUSIP No.   58446B105                 13G                      Page 6 of 8 Pages


Item 4. Ownership.

     Provide  the  following  information  regarding  the  aggregate  number and
percentage of the class of securities of the issuer identified in Item 1.

     (a) Amount beneficially owned: Zeron Capital Ltd. ("Zeron") 125,000 shares;
Odyssey Venture Partners LLP ("Odyssey")  1,500,000 shares;  and Argossy Limited
("Argossy") 1,000,000 shares.

     (b) Percent of class: Zeron .004%; Odyssey 4.8%; Argossy 3.3%.

     (c) Number of shares as to which such person has:

          (i) Sole power to vote or to direct  the vote:  Zeron  125,000  shares
          upon  exercise  of  a  warrant;   Odyssey  1,500,000  shares;  Argossy
          1,000,000 shares.

          (ii) Shared power to vote or to direct the vote: 0

          (iii) Sole power to dispose  or to direct the  disposition  of:  Zeron
          125,000 shares upon exercise of a warrant;  Odyssey  1,500,000 shares;
          Argossy 1,000,000 shares.

          (iv) Shared power to dispose or to direct the disposition of: 0


________________________________________________________________________________
Item 5.  Ownership of Five Percent or Less of a Class.

                                See Item 4 above

________________________________________________________________________________
Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.

                                      N/A

________________________________________________________________________________
Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company.

                                      N/A

________________________________________________________________________________
Item 8.  Identification and Classification of Members of the Group.

                                      N/A

________________________________________________________________________________
Item 9.  Notice of Dissolution of Group.

                                      N/A

________________________________________________________________________________
Item 10.  Certifications.

     (a)  The  following  certification  shall be included if the  statement  is
          filed pursuant to Rule 13d-1(b):

          "By signing  below I certify  that,  to the best of my  knowledge  and
          belief, the securities referred to above were acquired and are held in
          the ordinary course of business and were not acquired and not held for
          the  purpose  of or with the effect of  changing  or  influencing  the
          control of the issuer of the  securities and were not acquired and are
          not held in  connection  with or as a participant  in any  transaction
          having such purpose or effect."


     (b)  The  following  certification  shall be included if the  statement  is
          filed pursuant to Rule 13d-1(c):

          "By signing  below I certify  that,  to the best of my  knowledge  and
          belief, the securities referred to above were not acquired and are not
          held for the purpose of or with the effect of changing or  influencing
          the control of the issuer of the  securities and were not acquired and
          are not held in connection with or as a participant in any transaction
          having such purpose or effect."


<PAGE>



                                    SIGNATURE


     After reasonable inquiry and to the best knowledge and belief,  each of the
undersigned  certifies that the information set forth in this statement is true,
complete and correct.



                                        Zeron Capital Ltd.
                                        By:     /s/ Maxwell L. H. Quin
                                        Name:   Maxwell L. H. Quin
Dated:  February 4, 2000                Title:  Director


                                        Odyssey Venture Partners LP
                                        By:     /s/ Maxwell L. H. Quin
                                        Name:   Maxwell L. H. Quin
                                        Title:  Director of Zeron Capital Ltd.,
                                                as general partner to Odyssey
Dated:  February 4, 2000                        Venture Partners LP


                                        Argossy Limited
                                        By:     /s/ Ian Pilgrim
                                        Name:   Ian Pilgrim
Dated:  February 4, 2000                Title:   Director


<PAGE>


EXHIBIT A
                             JOINT FILING AGREEMENT


     Zeron Capital Ltd.,  Odyssey Venture  Partners LP and Argossy Limited agree
that the Schedule  13G, to which this  Agreement  is  attached,  relating to the
Common Stock of Mediaplex, Inc. is filed on behalf of each of them.



                                        Zeron Capital Ltd.
                                        By:     /s/ Maxwell L. H. Quin
                                        Name:   Maxwell L. H. Quin
Dated:  February 4, 2000                Title:  Director


                                        Odyssey Venture Partners LP
                                        By:     /s/ Maxwell L. H. Quin
                                        Name:   Maxwell L. H. Quin
                                        Title:  Director of Zeron Capital Ltd.,
                                                as general partner to Odyssey
Dated:  February 4, 2000                        Venture Partners LP


                                        Argossy Limited
                                        By:     /s/ Ian Pilgrim
                                        Name:   Ian Pilgrim
Dated:  February 4, 2000                Title:   Director





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