Be careful if you try cutting it too close. Slight differences in cam timing setup, including due to wear in chain and guides over time, will make a large difference.
Ruff rule of thumb. The halfway-open time will be roughly (not necessarily!) halfway between the nominal opening timing and the lobe center timing. If nominal IVO is at 30 degrees BTC and the lobe center is at 105 degrees ATC, the halfway-open point will be somewhere near 15 degrees ATC and that's probably pretty close to closest approach of piston and valve. For an engine having a stroke length in the automotive range, that 15 degrees of crank rotation is going to be in the 1 - 2 mm range of piston movement, which is in the vicinity of the minimum piston to valve clearance that you want anyhow. So if you have enough clearance running through TDC for the valve halfway open, it ought to be enough. If your cam timing radically differs then put in your own numbers to estimate whether this is going to be out to lunch or not, in your particular case. If you have a cam profile that snaps the valve open and leaves it at max lift for an extended dwell period, this is not going to work but nor will your quick and dirty calculation.
This ruff rule of thumb won't work for diesel engines that have nominal intake opening after TDC (after the piston has already left). VW diesels have piston-to-valve clearance comparable to the squish clearance. The clearance factor-of-safety is in the cam timing, not in the amount of clearance provided.
There is NO substitute for doing a plasticine-blob check when test-assembling the engine, then pull it apart again and inspect.
In one case where I wasn't sure where a certain camshaft was going to work, I did my test-assembly without even bolting the head to the block. When the head started lifting clear of the block when I started running the cam cap bolts down, I knew it wasn't going to work.