Create a hyperlink within an Excel cell?

Question

Is it possible to create a hyperlink within an Excel cell which only uses a section of the cell text for the clickable link? I.E. would the below table mockup represent som

Answer 1

I needed to link to a filename displayed in a cell, so here is what worked for me:

ActiveSheet.Hyperlinks.Add Anchor:=Cells(row, column), Address:=file.Path, TextToDisplay:=file.Path