On the other hand, it would quite useless for Venice to colonize the Americas, since it cannot steer that trade toward its capital. It would be much more profitable for such mediterranean powers to take territories near Oman/India to steer trade toward Suez and the Mediterranean and prevent the western european powers to make it go around Africa instead. This new trade system removes a bit of flexibility (well, unless you're willing to move your capital...), but should make things so interesting...