Alonso de Ojeda and Amerigo Vespucci led the 1499 Spanish expedition that first explored Venezuela's coast—naming it "Little Venice" (Veneziola) for the stilt-house villages (palafitos) of the Añu people on Lake Maracaibo, reminiscent of Venice.
"Founding" is a European framing. The region hosted complex societies—Timoto-Cuica (Andean agriculturalists), Carib, Arawak, Añu—with trade networks, agriculture, and governance long before 1499. Spanish colonization began in earnest 1520s (Cumaná, Coro).
Ojeda and Vespucci planted the flag; Venezuelans—Indigenous, African, European, mixed—built the nation over five centuries.