Colonization is the lesser known sibling to Civilization. In this game you are responsible for acting as an explorer from England, Spain, France or the Netherlands. You need to establish colonies in a new world, traffic goods and people between the colonies and the mother country and handle interactions with the native people and competitive exploring nations.
Colonization never did as well as Civilization, for many reasons. This game is far less rich than Civilization, and there are fewer strategies that you can employ. At the end of the day to only way to win is to secede from the mother country.
Colonization runs fine under Virtual PC.