In this article, we discuss a study of a pilot mentoring program for early career female researchers at a university that addressed the under-representation of female researchers in senior academic positions. Embracing a grounded theory approach, we draw on a design comprising an ex-ante and an ex-post evaluation. We disclose that development mentoring was at play. Benefits for the mentees consisted of guidance to career planning, competence awareness, establishment of networks, navigating in the research environment, and moral support. In our study we also show that the mentor-mentee relationship was reciprocal, as also mentors benefited. Benefits for the mentors comprised professional development, institutional recognition, and personal satisfaction. We conclude with an inventory of benefits, including for the institution in terms of a strengthened research environment.