Why are Lucentio and his servant Tramio in Padua? What do we learn about Lucentio's father Vincentio?

In Lucentio's first speech we learn that Vincentio is a "merchant of great traffic through the world", a wealthy businessman with good reputation. Lucentio has come to Padua to be educated by gaining experience in cultural and societal interactions. He tells Tranio that he is there "to study Virtue". His purpose quickly changes when he lays eyes on Bianca and he devotes his time and energy to pursuing her.