Marussia fought their way out of administration before the start of this season but, using year-old Ferrari engines and with the smallest budget on the starting grid, have yet to score a point in 2015.
Their future remains uncertain, with team principal John Booth and sporting director Graeme Lowdon set to leave at the end of the season after reportedly handing in their resignations last month.
The team are currently owned by Stephen Fitzpatrick, who runs the Independent British energy supplier Ovo and arrived in March as principal investor.
"I think if we get to late January or February, it may be too late, and my partners and I would probably lose interest," Hellmund told the newspaper (www.mystatesman.com) in the Texas state capital.
Hellmund, who is close to Formula One supremo Bernie Ecclestone, ruled out taking on the manufacturer teams if he did take control of Marussia.
"We’re never going to spend $400 million a year like Mercedes, Red Bull, Ferrari and McLaren," he said. "But we think you can run it respectably and not be in the red. I think you can fight for fifth."
Marussia's current lineup includes American driver Alexander Rossi and Hellmund indicated he would want him to stay -- even though NASCAR's hugely popular Dale Earnhardt Junior would be his first choice, despite being 41 and unlikely to accept.
Hellmund indicated that Marussia's plan to switch to Mercedes power units for 2016 would have to remain in place and the team would have to pass financial scrutiny for his group's interest to be maintained.
(Reporting by Alan Baldwin in London, editing by Ken Ferris)
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